Business Personal Property

What is Personal Property?

Business Personal Property is the tangible and intangible property used, or held for use, in a business.

Per Tennessee Code Annotated (TCA) 67-5-903, Tangible Personal Property is filed by “(a) All partnerships, corporations, other business associations not issuing stock and individuals operating for profit as a business or profession, including manufacturers, except those whose property is entirely assessable by the comptroller of the treasury” The property owner should report the cost of acquiring the property on the line for the year in which the property was acquired. The cost includes but is not limited to shipping, insurance to ship, sales tax, and any other cost to get the property on site and operational.

Tangible Personal Property schedules must be completed and filed with the county property assessor by the business owner or the business owner’s representative on or before March 1 of each year. All businesses that fail to file or the filing is incomplete will be force assessed by the county assessor’s office.

For more information, visit the Tennessee Comptroller of the Treasury website here or check out our FAQ’s here.

Business Personal Property
319 N Maple Street Suite 218
Murfreesboro, TN 37130